BELGATELECOM: what changed
Two fiscal years side by side, explained: what moved most in the balance sheet and the result, why the result rose or fell, and where the money went.
BELGATELECOM
Largest movements
- Tangible fixed assets -€16,292
down €16,292 (-42.4%), from €38,381 to €22,089
of which Furniture and vehicles: -€15,884
- Cash -€7,848
down €7,848 (-21.7%), from €36,113 to €28,265
mainly Debts after one year (-€8,859) and Net result for the year (-€8,577)
- Debts after one year -€8,859
down €8,859 (-21.9%), from €40,377 to €31,518
- Profit (loss) carried forward -€8,577
down €8,577 (-49.4%), from €17,369 to €8,791
- Other debts -€7,674
down €7,674 (-26.8%), from €28,666 to €20,992
- Tax, wage and social debts +€2,314
up €2,314 (+13.2%), from €17,464 to €19,778
of which Taxes: +€2,315
- Gross operating margin -€8,778
down €8,778 (-40.6%), from €21,634 to €12,857
- Other operating charges +€1,875
up €1,875 (+190.0%), from €987 to €2,862
- Depreciation -€440
down €440 (-2.6%), from €16,731 to €16,292
- Taxes -€375
down €375 (-34.8%), from €1,078 to €703
From the 2024 result to the 2025 result
Each bar is the change in one income-statement line, as its effect on the result: higher costs pull it down, higher income lifts it.
Cash bridge derived
Derived from the 2024 and 2025 balance sheets and the 2025 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €121,819 | €97,998 | -€23,820 | -19.6% |
| Fixed assets | 21/28 | €45,581 | €29,289 | -€16,292 | -35.7% |
| Tangible fixed assets | 22/27 | €38,381 | €22,089 | -€16,292 | -42.4% |
| Plant, machinery and equipment | 23 | €430 | €160 | -€270 | -62.8% |
| Furniture and vehicles | 24 | €37,064 | €21,180 | -€15,884 | -42.9% |
| Other tangible fixed assets | 26 | €887 | €750 | -€138 | -15.5% |
| Financial fixed assets | 28 | €7,200 | €7,200 | = | 0.0% |
| Current assets | 29/58 | €76,238 | €68,709 | -€7,529 | -9.9% |
| Stocks and contracts in progress | 3 | €40,000 | €40,000 | = | 0.0% |
| Stocks | 30/36 | €40,000 | €40,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €115 | €115 | = | 0.0% |
| Other amounts receivable | 41 | €115 | €115 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €36,113 | €28,265 | -€7,848 | -21.7% |
| Deferred charges and accrued income | 490/1 | €10 | €329 | +€319 | +3187.6% |
| Total equity and liabilities | 10/49 | €121,819 | €97,998 | -€23,820 | -19.6% |
| Equity | 10/15 | €25,429 | €16,851 | -€8,577 | -33.7% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €17,369 | €8,791 | -€8,577 | -49.4% |
| Amounts payable | 17/49 | €96,390 | €81,147 | -€15,243 | -15.8% |
| Amounts payable after more than one year | 17 | €40,377 | €31,518 | -€8,859 | -21.9% |
| Financial debts | 170/4 | €40,377 | €31,518 | -€8,859 | -21.9% |
| Amounts payable within one year | 42/48 | €56,013 | €49,629 | -€6,384 | -11.4% |
| Financial debts | 43 | €8,859 | €8,859 | +€0 | 0.0% |
| Credit institutions | 430/8 | €8,859 | €8,859 | +€0 | 0.0% |
| Trade debts | 44 | €1,024 | - | -€1,024 | |
| Suppliers | 440/4 | €1,024 | - | -€1,024 | |
| Taxes, remuneration and social security | 45 | €17,464 | €19,778 | +€2,314 | +13.2% |
| Taxes | 450/3 | €11,238 | €13,553 | +€2,315 | +20.6% |
| Remuneration and social security | 454/9 | €6,226 | €6,225 | -€1 | 0.0% |
| Other amounts payable | 47/48 | €28,666 | €20,992 | -€7,674 | -26.8% |
| Non-recurring operating income | 76A | €1,694 | - | -€1,694 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,731 | €16,292 | -€440 | -2.6% |
| Other operating charges | 640/8 | €987 | €2,862 | +€1,875 | +190.0% |
| Non-recurring operating charges | 66A | €9,109 | - | -€9,109 | |
| Gross operating margin | 9900 | €21,634 | €12,857 | -€8,778 | -40.6% |
| Operating profit (loss) | 9901 | -€5,193 | -€6,297 | -€1,104 | -21.3% |
| Financial income | 75/76B | €2 | €0 | -€2 | -95.7% |
| Recurring financial income | 75 | €2 | €0 | -€2 | -95.7% |
| Financial charges | 65/66B | €1,582 | €1,578 | -€4 | -0.3% |
| Recurring financial charges | 65 | €1,582 | €1,578 | -€4 | -0.3% |
| Profit (loss) for the period before taxes | 9903 | -€6,773 | -€7,875 | -€1,102 | -16.3% |
| Income taxes | 67/77 | €1,078 | €703 | -€375 | -34.8% |
| Profit (loss) for the period | 9904 | -€7,851 | -€8,577 | -€727 | -9.3% |
| Profit (loss) for the period to be appropriated | 9905 | -€7,851 | -€8,577 | -€727 | -9.3% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.